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Geely Auto Officially Enters Brazilian Market with Emgrand EC7

2014-01-23 23:42 ET - News Release

SAO PAULO, Brazil, Jan. 23, 2014 /PRNewswire/ -- Geely Automobile Holdings Ltd. ("Geely Auto" or the "Company") today announced that it has officially entered the Brazilian market with the launch of its flagship model, the Emgrand EC7. The Company has also appointed the Gandini Group, a leading international dealer group, as its exclusive dealer nationally to support the Company's expansion in Brazil.

The EC7's excellent driving performance and outstanding functionality have made it the most popular Geely Auto model, with sales in 20 countries and regions across the world. In November 2011, it was awarded a 4-star safety certification from Euro-NCAP, making it the first Chinese automotive model to score a high-star European safety accreditation.

Geely Auto's products for the Brazilian market will be assembled in Uruguay, with parts of the manufacturing process, including welding and painting, conducted in China. Geely Auto will partner with Nordex, a leading specialist auto assembly provider in Uruguay, whose facility has the capacity to produce 20,000 units of four Geely models: the EC7, the EC7-RV, the GC2 and the GX2. The partnership is expected to directly create over 300 jobs and as many as 900 jobs indirectly in Uruguay. The products assembled in the Uruguayan plant will principally serve the Brazilian and Argentinian markets, in accordance with the South American Common Market Agreement.

Geely Auto regards Brazil as an important market in its global expansion and partnered with the Gandini Group in August 2011 to establish Geely Motors do Brasil LtDa., with the aim of gaining greater local insight ahead of its arrival in the market. In 2014, Geely Auto intends to begin by selling the manual-transmission Emgrand EC7 and the manual-transmission Panda GC2, before introducing other models. The Company also plans to introduce more products to the Brazilian market by constructing a local assembly plant.

About Geely Automobile Holdings Limited:

Geely Automobile Holdings Limited (SEHK: 175) is an automobile manufacturer, focusing on the development, manufacture and sale of passenger vehicles. The Company sells most of its products in the China market and has also expanded its sales through export to other developing countries. The Company sells over 10 major sedan models, which are powered by its self-developed1.0L-2.4L petrol engines.

www.geelyauto.com.hk

SOURCE Zhejiang Geely Holding Group

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